In evaluating the reasonableness of an accounting estimate, an auditor would be least likely to use which of the following approaches?

Question

Quizplus · Accepted Answer

Choice "D" is correct. Even if estimates were discussed during board meetings and/or shareholder meetings, it is unlikely that review of such discussion would provide evidence that the estimate is reasonable. Choices "A", "B", and "C" are incorrect. Reviewing subsequent events, developing an independent expectation, and reviewing and testing the process used to develop the estimate are all appropriate methods used to evaluate the reasonableness of an accounting estimate.

In Evaluating the Reasonableness of an Accounting Estimate, an Auditor